MOD004451 Healthtech Global Project
Introduction
HealthTech Global Limited is the fastest growing organisation and based in Cambridge, which acquired a lot of funding from an innovation competitive marketplace. This type of enterprise deals in advanced technology such as AI platforms that is mainly used in medical services. Nowadays, it has been increasing the demand for artificial intelligence tools in medical care. Many professionals can use AI tools to identify the current health condition of patients.
The report is mainly focused on the project management plan that helps to identify the overall investment required in AI tools development. The chief project planning manager is focused on the different stakeholders, who have already aware of the project progress in the advanced technological innovation. This report will be proposed the best working style that is always supported before investment in the AI tools development.
Part A overview
Project management techniques
Based on the HealthTech Global Limited study, project management techniques are used by the manager to follow different procedures. The main reason for using appropriate project management techniques is to organise information or data properly. Generally, it is moving part of the entire project into the logical format and ensuring that it complete the project successfully (Dworak et.al. 2021). In the project life cycle, the planning manager faces a lot of challenges and face difficulties in the completing project. Sometimes, it is not easily meet the expectation level of consumers. That’s why project planning managers should be considered different techniques: –
Agile methodology– it is one of the fastest-growing techniques and used by the project manager in the AI tool development project. The agile technique can be adopted as an iterative process in which the entire team collaborates (Zubizarreta et. al. 2021). On the other hand, it is also engaged with potential clients throughout the process. Sometimes, it is also providing feedback to the team members based on their performance (Federici et. al. 2021).
Figure: 1 agile methodology
(Source: Agile methodology, 2021)
The agile technique is always encouraging the division of multiple activities. Afterward, it became easier for a project manager to perform testing activities. This means that identifying the multiple stages but should be considered the right testing process. In every stage of iteration, it always gives proper feedback to the client on the basis of current product development. Furthermore, it is also supported to align with expectations and the implementation process. This is the best way to achieve desirable results or outcomes.
Waterfall methodology– this type of technique is related to the traditional approach and follows a sequential design process. The project manager will perform project tasks in step-by-step manner. The waterfall can thrive in small projects and represent particular needs or requirements (Fridgeirsson et. al. 2021). The waterfall methodology always promotes the creation of secure and improved project plans. Sometimes, it meets the expectations from start to endpoint. This type of technique has followed the sequential linear process, once it starts and cannot revisit at the starting point.
Figure: 2 Waterfall model
(Source: Waterfall model process, 2021)
The waterfall methodology represents both advantages and disadvantages that are required to the consider as an important selection in the project development. According to HealthTech Global limited, the project planning manager should be focused on the structure of the model, identify technical requirements that provide a better opportunity for consumers to understand the importance of a new product like AI tools (Zheng et. al. 2021). On the other hand, the disadvantage of the waterfall method is that allows a lot of changes, risks and develops uncertainty.
Project management life cycle
According to the case study, project manager should be considered the project life cycle and starts multiple tasks in order to deliver the quality of results or outcomes. In the project of AI tools development, the life cycles are considered the quality, competition, time management and financial performance (Guertler et. al. 2021). During a complex situation, it is important to analyse the nature of the project so that it can easily handle or manage the tasks effectively and efficiently. The project manager will be creating the structure of the project and also logically simplifying them.
Project planning- it is the first step that involves the modification of project deliverables in the initiation phase. In this process, the planning manager plays an important role to establish strong coordination with team members, managers, and other stakeholders. The planning process is all about the way to determine desired goals, and also reducing the risk, deadline. At last, it will be delivering the finalized items.
Work breaks down structure-
Figure: 3 Work break down structure
(Source: Work break down structure, 2021)
Work breaks down structure is based on the method or technique of completing the project within a specific deadline. WBS is one of the best techniques in the project management because it helps to divide multiple tasks into smaller units. It means that can easily handle the different processes, leading to better team profitability as well as productivity.
According to the PMBOK, it can be categorized the different activities in the project and identify the specific needs or requirements.
Project execution– In this stage, it includes result, output and deliverables. According to the PMBOK, project manager will perform execution tasks and involve different activities. In this way, it will be completing the project within a specific deadline. In most of the cases, project planning manager in “HealthTech Global Limited” recommended the effective project plan and also satisfied the expectation level (Gunderman et. al. 2021). This stage is the most effectively manage time and utilize relevant resources. Project manager will perform to estimate the overall budget, risk management, procurement and communication. But these are challenges for managing at the time of project execution. This process will help the manager to move in the right direction and deliver the output.
Project controlling – This type of stage is performed different activities such as track, monitor, reviewing, and regulating the progress of project. As per consider PMBOK, the project manager will use the Jira platform so that they can easily track the project activities. It actively involves the progress of the project by initiating and forecasting solutions. In some situation, it is also eliminating the challenges and upgrade or change the entire project direction.
Project closure– It is the last phase of project life cycle and also represents the documentation of project, customer details, supplier contracts and also handing necessary equipment’s. In this process, the project manager will focus on the performance of the project and gain more opportunities to be aware of complex challenges. At last, it will be delivering the project to the client.
Based on the project life cycle, it has been analysed the importance of project management to manage or control risks. Different activities are divided into different ways:- project identification, project quantification and mitigation (Higgins et. al. 2020). For the concern of new product development, it is important to perform the different processes and predict the risk outcomes. Whenever, has been performed the analysis of risk to interact, communicate with different team members. For example- sequential activities are performed and identifying the critical path.
Improve the term-to-market of new products
Project planning manager should be considered the different steps such as: –
Identifying market– Project manager will focus on defining the current market situation and identifying the particular requirements for consumers. HealthTech Global limited must be focused on the AI tools development project (Hogarth, 2021). It is defined as a new item that an enterprise is developing and launching in the marketplace. In this way, it is an essential thing to address the need and expectations of individuals regarding AI tools in terms of medical services.
Examined the value proposition– This step is related to the improvement and introduces a new product in a competitive marketplace. The value proposition is depending on the perception of individuals and how they will gain opportunities through new product innovation (Vega-González et. al. 2021). The project manager will adopt the unique selling approach that always supports HealthTech Global limited to launch AI tools for healthcare services.
Developing an effective product strategy– According to HealthTech Global limited, the project manager is focused on developing a suitable product strategy (Ingle et. al. 2020). It plays an important role to define and identify that how it will maintain the stable position of enterprise in marketplace. Accordingly, the project manager will use promotional activities such as marketing. In order to develop more awareness regarding AI tools in health care services among consumers.
Using distributed channels– It is also another important approach used by the project manager in the context of AI tools development project. The channel selection can be processed by effective strategic planning. That’s why, manager will use marketing strategies to select or choose the right platform such as social media, email, and telephone calls. These kinds of channels are influencing the customers to use AI tools as new product services in medical treatment.
Quality in the project management
According to HealthTech Global Limited, project planning manager will focus on improving the quality of the project. For this reason, it will be considered the PMBOK methodology and improve the actual quality of the project (Johnson et. al. 2021). Generally, it can be used the different processes in quality project management such as quality management, control quality, and manage quality. These kinds of processes are correlated to each other and produce the best result or outcome.
Quality management- The aim of quality management is to determine the requirements, standards for the current AI development project in HealthTech Global Limited. In this process, it can be gathered or collected a large amount of information and maintained confidentiality (Ludwig –Monty et. al. 2021). On the other hand, different parties are agreed to sign the agreement and follow suitable policies. In this way, it helps to protect or secure sensitive information.
Manage quality- This process is defined as the translation plan and executive quality of different activities that incorporate suitable policies or procedures. The advantage of this phase is to increase the possibility of suitable goals or objectives. The project manager will try to keep track of the activities.
Control quality- It is the last process in which uses a method of tracking, monitoring and recording suitable outcomes. Afterward, the project planning manager will ensure the overall performance of project activities and generate results.
Managing the confidentiality
Confidentiality is based on the fundamental concept in terms of sensitive information or data. The role of a project manager is to ensure the confidentiality of the project but it is a highly challenging aspect. In some situations, it will be increasing the size, scope of project, if the project has become larger. Therefore, it is difficult to handle or manage. In HealthTech Global Limited, the project manager will determine the scope, size of the innovative AI tools development project. Different team members are establishing strong coordination with each other. Most importantly, it should be maintained the confidentiality and but needed to follow some processes.
Controlling and managing access– As per considering the approach of controlling access, it ensured that only authorized persons can access sensitive or confidential information. The project manager will assign a particular right to the teammates; accordingly, they were accessing confidential data or information (Niederman, 2021). At a certain point, it will be implementing a guideline in project management and dealing with a large amount of relevant confidential information.
Protecting access – Project manager will concern about protecting the access of confidential information or data. In this way, it will be used the database software keep record large amount of confidential information and also restricted unauthorized access. Generally, it can be applied the “Password” security option. Therefore, nobody can access confidential information and protect it in the database system.
Key personal approach– At an early stage, the project manager will discuss the access of confidential information with team members. In this way, it cannot reveal sensitive information otherwise, it is directly affecting the performance of the project. At the time of planning, individuals have created confidentiality for the project by using standards, norms, regulations.
Key measures and tactics to implement a new approach, reduce communication problems
According to the case study of HealthTech Global Limited, the project planning manager should try to communicate with different team members. In order to exchange information regarding the project development (Rozman et. al. 2021). Due to lack of coordination, poor mis-management between stakeholders these kinds of problems are identified at the time of communication. In this way, Project manager will focus on improving the communication, interactions with different stakeholders so that they can easily handle the current project.
To reduce communication problems during project management, the manager will use the communication strategy that takes into consideration of all essential needs or requirements of project. On daily basis, it will be organized the meeting session, every project stakeholder participated and share their viewpoint. Sometimes, it is also used advanced communication channels such as email, conference calls. This kind of tactic will support the stakeholders and establish an effective communication plan.
Another tactic is that identify the message forms in the project communication. Generally, it happens with strong interactions and helps to reduce the level of misunderstandings (Sarkar et. al. 2021). Moreover, it is also influencing people to avoid conflict relationships with other colleagues, executives.
Communication is one of the effective ways of interacting with stakeholders. In the project management, it will be implementing a communication plan and using the specific table that helps to identify the nature of communication. Project manager is the responsible person to concern about the important announcements such as reports, technical updates, and so on.
Customer benefit from the new approach
According to the given study, the project planning manager will focus on the specific demand of consumers in the marketplace. Based on the research, it has found the importance of AI tools in the health care field. In this way, the project manager will try to align the strategic goals and communicate with analysts that how will adequately perform a task. Afterward, it will meet the expectation level of customers.
The project manager will use the Prince 2 approach that is always support for project management regarding practical, flexible and scalability (Schwalbe et. al. 2020). Prince 2 approach is providing the benefit or advantage to establish strong coordination between professionals, who are working across different industries.
Prince 2 approach is helping to ensure the establishment of strong communication, interaction so that it can easily identify the nature, schedule. On the other hand, project manager will be used the PMBOK model to follow a proper standard by obtaining relevant information. The benefits of customers to use AI tools and measure the current health condition.
According to the PMBOK, it is a valuable fundamental concept for both employees, customers, and enterprises in different ways: –
- It supports the enterprise to maintain health care standardized activities.
- Helping the project manager to utilize the standardized system and handle current projects.
- PMBOK helps to reduce the risk or threat of a project by assisting project planning manager.
Part B Project planning
Gantt chart
A Gantt chart is a kind of bar chart and used in the project management plan. The project manager will use a Gantt chart to represent schedule time and activities. Based on the analysis, project-related AI tools development will be completed in 4 months. But project manager will try to finish the project in 3 months. Generally, it is also established a strong connection with other team members. Afterward, it will assign a specific task so that every team member can perform activities (Silva et. al. 2021). By using agile methodology, the project manager will be increasing the performance and efficiency. Every stage end before other processes can be re-formed and work more progressively. In some situations, project will perform personnel works together side by side, establish an effective communication plan. Due to an increase in the demand for a new product, the expectations level of the client will be changed. That’s why, it is important to maintain the quality of product and also minimizing the time, cost expenses.
In the project, it can be divided the tasks into smaller ones, encouraging or motivating the people to perform activities properly. The most importantly, it is needed to add some extra resources in task execution and also increase the performance while maintaining the budget plan (Thesing et. al. 2021). Based on the discussion, it has been analysed that the Gantt chart considers as an important approach to represent the different activities in step-by-step manner.
Part C Budget creation
Budget
Budget planning is based on the process or method of creating a documentation plan and spending money on project development. Before creating a plan, it is important to follow some necessary steps and determine advance whether spending money will be enough or not. Budget planning is an essential procedure for balancing a large number of expenses with specified income.
According to the budget plan, project manager will be creating the overall budget of euro 2, 10,000. This was considered as an initial budget plan. In this section, it is also considered the project life cycle and includes all necessary activities. Moreover, it is also calculating the salaries of project manager, consultants and other secretaries. Afterward, it will be conducting a session with chief executive officer and discuss the overall budget. CFO was expressed their negative point on the budget planning. He was tried to negotiate and minimize the budget by approximately euro 1, 70, 000. The main reason is that enterprise cannot afford a high budget expense. That’s why CFO has focused on reducing the price or cost of project. Afterward, the selection of a lower budget means that the project manager uses an agile technique and performs iterative working. This kind of approach will help the project planning manager to manage all essential resources and finish the project under a lower budget.
Conclusion
In the above analysis, it has been concluded that project management plays an important role to perform different activities in the development of the new product. In this report, it has been summarised the fundamental concept related to AI tools development. Therefore, it has been developed a suitable plan to follow a different process. Furthermore, it has been analysed that role of the chief project planning manager and build a strong connection with stakeholders, who have already aware of the project progress in the advanced technological innovation. Moreover, it has been proposed solutions to complete the project within a specific deadline.
References
Book and Journals
Dworak, E., Nelson, G., Armstrong, M., Davis, M., Paul, Y. and Shook, E., (2021). Data Management Plan for Investigating Early Mathematics Learning Opportunities for Children with Disabilities in the Home Learning Environment.
Federici, G., Baylard, C., Beaumont, A. and Holden, J., (2021). The plan forward for EU DEMO. Fusion Engineering and Design. p.112960.
Fridgeirsson, T.V., Ingason, H.T., Jonasson, H.I. and Jonsdottir, H., (2021). An Authoritative Study on the Near Future Effect of Artificial Intelligence on Project Management Knowledge Areas. Sustainability. 13(4). p.2345.
Guertler, M.R. and Sick, N., (2021). Exploring the enabling effects of project management for SMEs in adopting open innovation–A framework for partner search and selection in open innovation projects. International Journal of Project Management. 39(2). pp.102-114.
Gunderman, H. and Slayton, E., (2021) 7 Weeks, 7 DMPs: Iterative Learning around Data Management Plan Creation.
Higgins, D. and Madai, V.I., (2020). From bit to bedside: a practical framework for artificial intelligence product development in healthcare. Advanced intelligent systems. 2(10). p.2000052.
Hogarth, M., (2021). Project Manager Personal Improvement Plan.
Ingle, P.V. and Mahesh, G., (2020). Construction project performance areas for Indian construction projects. International Journal of Construction Management. pp.1-12.
Johnson, K.B., Wei, W.Q., Weeraratne, D., Frisse, M.E., Misulis, K., Rhee, K., Zhao, J. and Snowdon, J.L., (2021). Precision medicine, AI, and the future of personalized health care. Clinical and Translational Science. 14(1). pp.86-93.
Ludwig-Monty, S. and Henderson, M., (2021) Quality Assurance Project Plan (Updated in 2021).
Niederman, F., (2021). Project management: openings for disruption from AI and advanced analytics. Information Technology & People.
Rozman, T., Stjepanovič, T.K. and Raspor, A., (2021). An analysis of web-based document management and communication tools usage among project managers. In Research Anthology on Digital Transformation, Organizational Change, and the Impact of Remote Work (pp. 662-686). IGI Global.
Sarkar, D., Jha, K.N. and Patel, S., (2021). Critical chain project management for a highway construction project with a focus on theory of constraints. International Journal of Construction Management. 21(2). pp.194-207.
Schwalbe, N. and Wahl, B., (2020). Artificial intelligence and the future of global health. The Lancet, 395(10236), pp.1579-1586.
Silva, C.S., Pereira, C. and Magano, J., (2021). The value of project management to competitiveness: key factors from a holistic and practical perspective. International Journal of Managing Projects in Business.
Thesing, T., Feldmann, C. and Burchardt, M., (2021). Agile versus Waterfall Project Management: Decision Model for Selecting the Appropriate Approach to a Project. Procedia Computer Science. 181. pp.746-756.
Vega-González, L.R. and Vega-Salinas, R.M., (2021). Plan to Develop Linkage and Project Management Networks in Health R&D Institutions: A Case Study.
Zheng, L., Kim, W.G., Ham, N.H. and Kim, J.J., (2021). Apartment house project cost schedule for integrated management BIM-based BoQ application plan. Journal of KIBIM. 11(2). pp.1-16.
Zubizarreta, M., Ganzarain, J., Cuadrado, J. and Lizarralde, R., (2021). Evaluating disruptive innovation project management capabilities. Sustainability. 13(1). p.1.
Online
Work break down structure. (2021). [Online]. [Available through]:<https://www.inloox.com/project-management-glossary/work-breakdown-structure/>
Waterfall model process. (2021). [Online]. [Available through]:<https://www.smartsheet.com/content-center/best-practices/project-management/project-management-guide/waterfall-methodology>
Source: Agile methodology. (2021). [Online]. [Available through]:< https://medium.com/@farazam/be-an-agile-team-b085d67f72f>
Know more about UniqueSubmission’s other writing services:
